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Coverage ratio

The coverage ratio shows you what our financial position is.

The coverage ratio is the relationship between PGB’s capital (assets) and the pensions we have to pay out. If the coverage ratio is 100%, then there is precisely enough money to pay all the pensions.  However, the government has prescribed that pension funds must have a buffer. A high coverage ratio is, therefore, important.


 


 

There are two coverage ratios
 

1. The current UFR coverage ratio
The coverage ratio is the relationship between PGB’s capital (assets) and the pensions we have to pay out. If the coverage ratio is 100%, then there is precisely enough money to pay all the pensions.  However, the government has prescribed that pension funds must have a buffer. A high coverage ratio is, therefore, important.

Movement in the UFR coverage ratio

Month

UFR coverage ratio

​January 2021
​103.6%
​December 2020
​102.5%
November 2020
108.8%
October 2020
96.2%
September 2020
97.4%
August 2020
96.9%
July 2020
94.4%
June 2020
94.0%
May 2020
93.3%
April 2020
92.0%
March 2020
90.1%
February 202095.9%

2. Policy coverage ratio
This is the average UFR coverage ratio over the last 12 months. Each year, on the basis of this coverage ratio, the board decides whether or not the pensions can be increased.

Movement in the policy coverage ratio

Month

Policy coverage ratio

​January 2021
​96.4%
​December 2020
​96.3%
November 2020
96.5%
October 2020
96.6%
September 2020
97.0%
August 2020
97.1%
July 2020
97.0%
June 2020
97.6%
May 2020
98.4%
April 2020
99.3%
March 2020
100.6%
February 2020101.9%

 


 

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